ReGen III signs U.S. MOU, talks global patents

Executive Summary

• ReGen III Corp. executed a non-binding Memorandum of Understanding (MOU) with a U.S.-based base oil and lubricants blender to establish a commercial framework for a future multiyear offtake agreement for Group III and Group II+ base oils.
• This new MOU represents approximately 50% or more of the estimated base oil production capacity from U.S. facilities currently contemplated under the company's commercialization strategy.
• The company received patent certificates in Brazil, Australia, and Mexico, and had patent applications granted/allowed in Indonesia and South Korea, bringing its total intellectual property portfolio to 42 patents with seven additional applications pending.

Key Details

• MOU Counterparty: A United States-based base oil and lubricants blender supplying customers across automotive, industrial, and specialty end markets.
• Product Scope: Group III and Group II+ base oils.
• Strategic Impact: The executed MOU portfolio now represents approximately 50% or more of the estimated base oil production capacity from U.S. facilities currently contemplated under ReGen III's commercialization strategy.
• Status: The MOU is non-binding; completion of a definitive agreement is subject to negotiation and execution of final documentation.
• Patent Updates:
  • Granted Certificates: Brazil, Australia, and Mexico.
  • Granted/Allowed Applications: Indonesia (granted) and South Korea (allowed).
  • Portfolio Totals: 42 patents held; 7 additional applications pending.
  • Strategic Value: Strengthening freedom to operate and long-term competitive positioning in key global lubricant markets.

Notable Quotes

• "This MOU further reinforces the strong and growing interest from established North American lubricant market participants in ReGen III's base oils," stated Tony Weatherill, president and chief executive officer. "Together with our expanding global patent portfolio, these commercial developments continue to advance our path toward commercialization and strengthen the foundation for long-term shareholder value."